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LONG-TERM COMPARATIVE ANALYSIS OF PUBLIC FINANCES IN POLAND AND SLOVAKIA IN 2000 – 2018
Abstract
The subject of the paper is an analysis of the situation in public finances in Poland and Slovakia in 2000-2018. The authors formulated three research questions: 1) What was the budgetary situation and the level of public debt in both countries in the pre-accession period, in particular in the years of economic slowdown 2001-2003; 2) What were the results of public finance consolidation after the EU accession, in the period of economic prosperity 2004-2007; 3) What was the scale of the deterioration in public finances in Poland and Slovakia caused by the financial and economic crisis of 2008-2009 and the effects of post-crisis consolidation. The analysis shows that the initial situation (pre-accession period) in public finances was better in Poland. In the period of economic prosperity 2004-2007, Poland had relaxed budgetary discipline. The 2008-2009 crisis contributed more to the increase in the budget deficit and public debt in Slovakia. The process of post-crisis consolidation is faster in Slovakia.
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